24/7 Wall St.
06-06-2008, 07:50 AM
24/7 Wall St. Daily News
The bankers in Europe are bigger suckers than the bankers in the US. At least that is what the FT claims. It says "Of the $387bn in credit losses that global banks have reported since the start of 2007, $200bn was suffered by European groups and $166bn by US banks." The Institute of International Finance has discovered the reason for this. Salesmen from US financial institutions where able to dupe banks in the EU more than they were able to finesse domestic banks. The greater fool theory still seems to be at work. Douglas A. McIntyrehttp://feeds.feedburner.com/~f/typepad/RyNm?i=LTPoVI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=LTPoVI) http://feeds.feedburner.com/~f/typepad/RyNm?i=hcLpOI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=hcLpOI) http://feeds.feedburner.com/~f/typepad/RyNm?i=pwvwvi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=pwvwvi)
complete story here... (http://www.247wallst.com/2008/06/credit-problems.html)
The bankers in Europe are bigger suckers than the bankers in the US. At least that is what the FT claims. It says "Of the $387bn in credit losses that global banks have reported since the start of 2007, $200bn was suffered by European groups and $166bn by US banks." The Institute of International Finance has discovered the reason for this. Salesmen from US financial institutions where able to dupe banks in the EU more than they were able to finesse domestic banks. The greater fool theory still seems to be at work. Douglas A. McIntyrehttp://feeds.feedburner.com/~f/typepad/RyNm?i=LTPoVI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=LTPoVI) http://feeds.feedburner.com/~f/typepad/RyNm?i=hcLpOI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=hcLpOI) http://feeds.feedburner.com/~f/typepad/RyNm?i=pwvwvi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=pwvwvi)
complete story here... (http://www.247wallst.com/2008/06/credit-problems.html)